Mercantile Bank in Grand Rapids, Mich., has named a new chief executive for its bank unit as it overhauls its leadership in the wake of the retirement of its chairman.
Robert Kaminski Jr. will succeed Michael Price as CEO of the $2.9 billion-asset Mercantile Bank of Michigan. Kaminski will remain president of the bank.
Price will reassume the position of chairman of Mercantile Bank's holding company. Price had held that role before Mercantile's June 2014 acquisition of Firstbank in Alma, Mich. Price will remain chairman of Mercantile Bank of Michigan and CEO of the holding company.
Thomas Sullivan will retire as chairman of the holding company, although he will remain a director of both the bank and holding company. Sullivan is the former CEO of Firstbank.
All the changes are effective today.
Also today, Mercantile Bank promoted five other senior officers to the positions of head of regional markets, or loan managers.